Eric Dobmeier Sells 5,343 Shares of Seattle Genetics, Inc. (SGEN) Stock
Seattle Genetics, Inc. (NASDAQ:SGEN) COO Eric Dobmeier sold 5,343 shares of Seattle Genetics stock in a transaction on Monday, August 28th. The stock was sold at an average price of $47.89, for a total value of $255,876.27. The sale was disclosed in a filing with the SEC, which is available at this link.
Seattle Genetics, Inc. (NASDAQ:SGEN) opened at 52.53 on Friday. The stock’s market capitalization is $7.51 billion. Seattle Genetics, Inc. has a 12 month low of $43.71 and a 12 month high of $75.36. The stock has a 50 day moving average price of $50.03 and a 200 day moving average price of $59.97.
Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.03. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The company had revenue of $108.20 million for the quarter, compared to analysts’ expectations of $105.92 million. During the same period last year, the firm earned ($0.23) EPS. Seattle Genetics’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities research analysts forecast that Seattle Genetics, Inc. will post ($1.69) earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in SGEN. Bank of Montreal Can boosted its position in shares of Seattle Genetics by 280.2% in the first quarter. Bank of Montreal Can now owns 7,235 shares of the biotechnology company’s stock worth $454,000 after buying an additional 5,332 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of Seattle Genetics by 7.4% in the first quarter. Capstone Asset Management Co. now owns 5,055 shares of the biotechnology company’s stock worth $318,000 after buying an additional 350 shares in the last quarter. Nationwide Fund Advisors bought a new position in shares of Seattle Genetics during the first quarter worth approximately $1,402,000. Shell Asset Management Co. boosted its position in shares of Seattle Genetics by 5.2% in the first quarter. Shell Asset Management Co. now owns 24,961 shares of the biotechnology company’s stock worth $1,569,000 after buying an additional 1,230 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Seattle Genetics during the first quarter worth approximately $119,000. 97.70% of the stock is currently owned by institutional investors.
A number of analysts recently commented on the company. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Seattle Genetics in a report on Thursday, June 15th. BidaskClub lowered Seattle Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. Barclays PLC reiterated a “hold” rating on shares of Seattle Genetics in a report on Friday, June 23rd. Cann reiterated a “hold” rating on shares of Seattle Genetics in a report on Monday, June 19th. Finally, Cowen and Company set a $61.00 price target on Seattle Genetics and gave the stock a “hold” rating in a report on Tuesday, June 6th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.29.
About Seattle Genetics
Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).
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